Senmiao Technology Limited 8-K Filings

Senmiao Technology Ltd (AIHS) reported that Nasdaq has notified the company it is no longer in compliance with Nasdaq Capital Market Listing Rule 5550(b)(1), which requires at least $2,500,000 in stockholders’ equity for continued listing.

Based on its Form 10-Q for the period ended June 30, 2026, Senmiao’s stockholders’ equity was (-$35,344,336) as of June 30, 2026, and the company also did not meet alternative market value or net income standards. Senmiao has 45 calendar days from the August 21, 2026 notice, or until October 5, 2026, to submit a compliance plan. If Nasdaq accepts the plan, Senmiao may receive up to a 180-day extension, through February 17, 2027, to regain compliance. The notice has no immediate effect on AIHS’s Nasdaq listing, but the company warns that potential delisting could reduce liquidity, limit capital-raising options, and impair its ability to grant equity incentives.

Senmiao Technology Limited announced that investors should no longer rely on its unaudited condensed financial statements for the quarter ended December 31, 2025. The Audit Committee, after discussions with management, found that 905,000 pre-funded warrants issued at $1.26 per share and 4,510,000 concurrent private placement warrants from a November 14, 2025 securities purchase agreement were incorrectly classified as equity.

The company determined these warrants should have been recorded as derivative liabilities measured at fair value. Senmiao plans to restate the 2026 Quarterly Report on Form 10-Q to amend its financial statements, related disclosures, and Management’s Discussion and Analysis. Management previously disclosed that its disclosure controls and procedures were ineffective due to material weaknesses in internal control over financial reporting, which it concluded contributed to these errors.

Senmiao Technology Limited reported voting results from its annual stockholder meeting. Stockholders elected five directors, ratified Marcum Asia CPAs LLP as auditor for the year ending March 31, 2026, and approved several capital structure and financing proposals.

They approved, under Nasdaq Listing Rule 5635, issuing shares underlying warrants from a November 14, 2025 Securities Purchase Agreement, and authorized (but did not require) the board to implement one or more reverse stock splits at ratios up to 1-for-100 before the next annual meeting. Stockholders also approved increasing authorized common shares from 50,000,000 to 500,000,000 and the issuance of common stock and PIPE Warrants in a private placement of up to $11,000,000 pursuant to an April 23, 2026 Securities Purchase Agreement.

Senmiao Technology Limited entered into a securities purchase agreement for a private placement of up to 10,000,000 units. Each unit consists of one share of common stock and four warrants, sold at $1.10 per unit, for potential gross proceeds of approximately $11,000,000 if all units are sold.

Each warrant allows the holder to buy one share of common stock at an exercise price of $1.46 per share until 2031. The units are being sold to accredited or sophisticated investors under Regulation D, with net proceeds earmarked for working capital and general corporate purposes. Closing is subject to conditions, including stockholder approval for the issuance of the units.

Senmiao Technology Limited filed an update on its Nasdaq listing status. In December 2025, Nasdaq notified the company that it was not meeting the required minimum stockholders’ equity of $2,500,000 under Rule 5550(b)(1), after reporting stockholders’ equity of ($132,073) as of September 30, 2025 and not satisfying alternative standards for market value or net income as of November 30, 2025.

On December 31, 2025, Senmiao entered into an acquisition agreement to spin off 100% of the equity interests of its subsidiaries Yicheng and Zecheng to Hu Mao Sheng Tang Holdings Limited, and reported completion of this disposition in a compliance plan submitted to Nasdaq on January 15, 2026. The company believes that, following this transaction, it now exceeds the $2,500,000 stockholders’ equity requirement and has regained compliance, although Nasdaq will continue to monitor its status and may delist the company if its Form 10-Q for the period ended December 31, 2025 does not demonstrate compliance.

Senmiao Technology Limited reported that its board appointed Yafeng Li as Chief Financial Officer on January 2, 2026, filling the vacancy created by the resignation of former CFO Xiaoyuan Zhang. Under an employment agreement dated the same day, Ms. Li will receive an annual salary of $50,000 for her services as CFO.

Ms. Li previously served as Financial Controller of World Trade Technology LLC since May 2020 and holds several professional certifications, including Certified Internal Auditor, Certified Management Accountant, and Certified Tax Agent (China). She earned a bachelor’s degree in accounting from Shanxi University. The company states there are no family relationships or related-party transactions involving Ms. Li that require disclosure.

Senmiao Technology Limited agreed to dispose of its two wholly owned subsidiaries, Sichuan Senmiao Yicheng Asset Management and Sichuan Senmiao Zecheng Business Consulting, which had accumulated losses of approximately $11 million as of September 30, 2025. Under an Acquisition Agreement dated December 31, 2025, the company will transfer 100% of the equity in both entities to Hu Mao Sheng Tang Holdings Limited, a non-affiliated Hong Kong buyer, for no additional consideration.

After closing, the purchaser will become sole shareholder of both subsidiaries and assume all of their assets and obligations. The board approved the deal based on a third-party valuation report concluding that a sale for no additional consideration is consistent with the subsidiaries’ fair market value. Separately, effective December 31, 2025, Chief Financial Officer and Treasurer Ms. Xiaoyuan Zhang resigned, with the company stating her departure was not due to any disagreement over accounting, operations, policies, or practices.

Senmiao Technology Limited (AIHS) reported several leadership and board changes. Effective November 25, 2025, director Sichun Wang resigned from the board and from her roles as chair of the audit committee and member of the compensation and nominating committees; her resignation was stated to be not due to any disagreement with the company on accounting, operations, policies, or practices.

The board appointed Si (Simon) Li as an independent director, chairman of the audit committee, and member of the compensation and nominating committees, with annual compensation of $30,000. It also appointed Chong Chen as an independent director, member of the compensation and audit committees, and chairman of the nominating committee, also with annual compensation of $30,000.

Separately, the board appointed Ronggang (Jonathan) Zhang as Chief Executive Officer, executive director, and chairman of the board, replacing a previously disclosed resignation. His annual compensation will be $50,000. The company states there are no family relationships or related-party transactions requiring disclosure for any of the appointees.

Senmiao Technology Limited (AIHS) reported major leadership changes. Effective November 21, 2025, Wen Xi resigned as Chief Executive Officer and Chairman of the Board, and Trent D. Davis resigned as a director, with his resignation effective immediately.

The company states that both Mr. Wen and Mr. Davis resigned for personal reasons and that their decisions were not due to any disagreement with Senmiao on operations, policies, or practices. The company expressed appreciation for their years of service.

Senmiao Technology Limited (AIHS) reported that it has completed a registered direct offering, as announced in a press release dated November 20, 2025. The related exhibit describes this as a $2.8 million registered direct offering, indicating that the company has raised new capital through the sale of its securities directly to investors under an effective registration. Details such as the securities sold, pricing, and specific use of proceeds are contained in the referenced press release, which is incorporated by reference into this report.

Senmiao Technology Limited (AIHS) reported it entered a securities purchase agreement with certain non-U.S. investors to sell an aggregate of 500,000 shares of its common stock at $1.32 per share. This unregistered Regulation S offering generated $660,000 in gross proceeds for the company before customary expenses and closed on November 14, 2025.

In a related move, Senmiao also issued 200,000 shares of common stock to a consultant in exchange for services. Both the investor shares and the consultant shares were issued outside U.S. registration requirements under the Securities Act using Regulation S, and the company noted that this disclosure does not constitute an offer to sell or a solicitation to buy these securities.

Senmiao Technology Limited reported that it has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. Nasdaq notified the company that its common stock closed at or above $1.00 per share for 10 consecutive business days from July 29, 2025 to August 11, 2025, satisfying the continued listing standard, and the matter is now closed. Earlier, Nasdaq had warned that the stock traded below $1.00 for 30 consecutive business days between June 13, 2025 and July 28, 2025, giving the company until January 26, 2026 to fix the issue, but the company achieved compliance well before that deadline.

Senmiao Technology Limited (Nasdaq: AIHS) filed a Form 8-K stating that it will effect a 1-for-10 reverse stock split of its common stock, par value $0.0001, effective Tuesday, 29 July 2025. Beginning at that day’s market open, shares will trade on a split-adjusted basis, reducing the number of outstanding shares by 90 % while proportionally increasing the market price per share; individual investors’ overall equity stakes remain unchanged.

The company cites no financial metrics, earnings updates or additional corporate actions. Management appears focused on raising AIHS’s share price to satisfy Nasdaq’s minimum bid requirement and preserve its listing. Further details are furnished—rather than filed—in Exhibit 99.1, limiting the company’s liability under the Exchange Act.